Reply to More profitable for DC landlords to "sit" on empty storefronts than rent at market rate??

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Reply to "More profitable for DC landlords to "sit" on empty storefronts than rent at market rate??"

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[quote=Anonymous][quote=Anonymous]I just googled this question and there are lots of reasons, none of which seem to be generating tax losses. While tax losses are not idea, because you cannot recoup 100% of the loss and therefore you still lose money, it may provide at least some perverse incentive in that it reduces your losses that allows you to hold to a vacant storefront with the hope of getting a higher rent on a long-term tenant in the future.

https://www.washingtonpost.com/local/i-always-wonder-why-retail-storefronts-sit-empty-why-dont-they-just-cut-the-rent/2017/06/06/9c43e074-4ac4-11e7-9669-250d0b15f83b_story.html[/quote]

I saw the same article... I wonder if this is the same idea. I wonder why the Mayor + Council wouldn't go after perverse incentives. If you have folks willing to pay some set rental rate -let's not be socialist, something really decent, a high bar, and you hold out, increasins penalties as time passes? We've all seen them....those prime properties empty for years. Someone is somehow benefitting from that as opposed to simply operating it as an ongoing retail property at a decent rent.[/quote]

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